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We know that access to credit is critical to your business's success. We offer competitive rates, flexible terms and local underwriting. Marblehead Bank has options to suit your needs. Our commercial financing programs are underwritten and serviced by Marblehead Bank. For current rates on our various programs call Matthew Ingram at 781-631-5500 or 800-475-1871.
Marblehead Bank offers loans for construction, purchasing and refinancing commercial real estate.
The term and rate for Commercial/Investment Mortgage Loans will be determined based on the Bank's commercial underwriting guidelines.
The interest rate is an adjustable rate based on the Federal Home Loan Bank regular advance rate plus a margin. In each case, a margin will be added based on the appropriate transaction risk, customer relationship, and current market conditions. Fees may be included for loan documentation, attorney fees, and other service or recording fees as are appropriate.
Commercial/Investment mortgage financing can be written in first or second lien position.
Term loans are generally used to finance the acquisition of equipment, finance improvements to a commercial property, acquire commercial property, and amortize permanent working capital.
The Loan is typically amortized over a fixed period and can vary from being an intermediate to a long-term loan, determined case-by-case.
The interest rate is adjustable, based on the Prime Rate as published in the Wall Street Journal plus a margin. In each case, the margin added is determined based on what is appropriate for the transaction risk, customer relationship, and current market conditions.
Fees may be included for loan documentation, attorney fees, and other appropriate compensation.
Commercial term loans are written secured or unsecured, based on a case-by-case determination
A line of credit is used to support working capital requirements or any other appropriate short-term borrowing purpose where usage on the line is expected to vary during a specific time period. The commercial line of credit is a specific limit the bank will lend a customer with a one-year demand feature with renewal reviewed each year. Additionally, the line will typically have a thirty-day rest period where the borrower(s) must maintain a zero balance for thirty days during the one-year term.
The interest rate for a commercial line of credit is adjustable, based on Prime Rate as published in the Wall Street Journal money rates section plus a margin. The margin is determined case-by-case based on what is appropriate for the transaction risk, customer relationship, current market conditions and any other applicable factors. Fees may be included for loan documentation, facility usage, or other factors or events as warranted.
Commercial credit lines are written secured or unsecured, based on a case-by-case determination.
Every year the U.S. Small Business Administration and its nationwide network of resource partners help millions of small businesses start, grow and succeed.
If you're just starting out, SBA resources can help organize your thoughts on what type of business you want to open. SBA resources can also help you obtain loans and develop your business management skills. If you're already in business, you can use SBA resources to manage and expand your business, obtain government contracts, recover from disaster and have your voice heard in federal government. Marblehead Bank is proud to be an SBA Lender.
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